The development of start-ups’ contribution to the economy will help achieve the target of doubling the UAE's gross domestic product by 2031, the Minister of Economy has said.
The Future 100 initiative will identify, honour and support promising small and medium enterprises that are contributing to the UAE’s future economic sectors, Abdulla bin Touq said in Dubai last week.
He was speaking at an event organised by the Ministry of Economy and Government Development and the Future Office to sign strategic partnerships with the private sector to support the initiative.
“The initiative champions the UAE’s economic sectors that will shape the economic landscape, with particular focus on nurturing the start-up sector,” Mr bin Touq said.
“Our objectives are very clear: accelerate the growth of SMEs into the future economy and stimulate private investment in the future economy.
“Through the initiative, we aim to provide fast access to investors, regulators and the business community, and offer support in terms of funding, legal advice, commercial assistance and capacity building.”
The programme was launched in December and aims to support and annually honour the top 100 start-ups that will have a significant impact on the UAE’s economy and boost its readiness for the future.
The Future 100 initiative will support start-ups in new and emerging industries like advanced manufacturing, FinTech, intelligent mobility, biotechnology, entertainment/streaming, space, renewable energy, cyber security, blockchain, 3D printing, e-commerce, Metaverse, on-demand economy, robotics, Web3, Internet of Things and sharing economy.
The focus will be both on native UAE companies and international businesses with a base in the UAE.
The start-ups will be assessed based on creative capacity, market potential, business viability/scalability, and environmental, social and governance (ESG) impact.
To achieve the goals of the future economy, the government has launched initiatives, including the UAE Centennial 2071 road map, the Emirates Blockchain Strategy, the Green Growth Strategy, the Strategy for the Fourth Industrial Revolution, the Circular Economy Policy, the National Programme for Artificial Intelligence 2031 and the Energy Strategy 2050.
“The Future 100 initiative is an integral part of our growth strategy to transform our economy, enhance its resilience and ensure future sustainability,” Mr bin Touq said.
“Each year, we will shine a spotlight on the top 100 companies that foster the competitiveness of our future economic sectors. We will announce the names of the pioneering companies on December 2.”
The initiative will help build partnerships between the public and private sectors. These partnerships will provide incentives, investment opportunities, acceleration support, technical and legal guidance, competitive financing solutions as well as workshops on intellectual property rights and trademarks, the minister added.
The initiative has brought in 25 new strategic, acceleration and community partners to support 100 emerging companies that are future-focused, enhance the competitiveness of new sectors, and help prepare the country for the future, according to Ohood Al Roumi, Minister of State for Government Development and the Future.
“As we navigate an era of great challenges and even greater opportunities, we must ensure that future readiness is the central force driving everything we do,” the minister said.
“In our vision for 2031, we have set ambitious goals and measurable targets on all fronts for the next decade, including becoming one of the top 10 countries globally in future readiness.
“The vision focuses on key areas of importance to the UAE spanning health, education, economy, environmental sustainability and technology. Future 100 is a key initiative towards achieving our vision.”
The National Corporate Social Responsibility Fund (Majra) is the strategic partner for the Future 100 initiative, while acceleration partners include Microsoft, Emirates NBD, Dubai Future District Fund, Department of Economic Development, FTI Consulting, Careem and Mohammed bin Rashid Innovation Fund.
Community partners include AstroLabs, Abu Dhabi SME Hub, Hub71, Flat6Labs, VentureSouq, Ras Al Khaimah Economic Zone, Mashreq and Middle East Venture Capital Association, among others.
The UAE aims to become home to 20 start-ups valued at more than $1 billion by 2031, in its push to become a regional centre for innovation and entrepreneurship.
The industry received a further boost last October when the Ministry of Economy launched its updated Entrepreneurial Nation programme, which seeks to develop more than 8,000 SMEs and start-ups by 2030.
The%20specs
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Dubai Rugby Sevens
November 30, December 1-2
International Vets
Christina Noble Children’s Foundation fixtures
Thursday, November 30:
10.20am, Pitch 3, v 100 World Legends Project
1.20pm, Pitch 4, v Malta Marauders
Friday, December 1:
9am, Pitch 4, v SBA Pirates
The Bio
Name: Lynn Davison
Profession: History teacher at Al Yasmina Academy, Abu Dhabi
Children: She has one son, Casey, 28
Hometown: Pontefract, West Yorkshire in the UK
Favourite book: The Alchemist by Paulo Coelho
Favourite Author: CJ Sansom
Favourite holiday destination: Bali
Favourite food: A Sunday roast
Heavily-sugared soft drinks slip through the tax net
Some popular drinks with high levels of sugar and caffeine have slipped through the fizz drink tax loophole, as they are not carbonated or classed as an energy drink.
Arizona Iced Tea with lemon is one of those beverages, with one 240 millilitre serving offering up 23 grams of sugar - about six teaspoons.
A 680ml can of Arizona Iced Tea costs just Dh6.
Most sports drinks sold in supermarkets were found to contain, on average, five teaspoons of sugar in a 500ml bottle.
The specs
Price, base / as tested Dh1,100,000 (est)
Engine 5.2-litre V10
Gearbox seven-speed dual clutch
Power 630bhp @ 8,000rpm
Torque 600Nm @ 6,500rpm
Fuel economy, combined 15.7L / 100km (est)
UAE currency: the story behind the money in your pockets
Ten tax points to be aware of in 2026
1. Domestic VAT refund amendments: request your refund within five years
If a business does not apply for the refund on time, they lose their credit.
2. E-invoicing in the UAE
Businesses should continue preparing for the implementation of e-invoicing in the UAE, with 2026 a preparation and transition period ahead of phased mandatory adoption.
3. More tax audits
Tax authorities are increasingly using data already available across multiple filings to identify audit risks.
4. More beneficial VAT and excise tax penalty regime
Tax disputes are expected to become more frequent and more structured, with clearer administrative objection and appeal processes. The UAE has adopted a new penalty regime for VAT and excise disputes, which now mirrors the penalty regime for corporate tax.
5. Greater emphasis on statutory audit
There is a greater need for the accuracy of financial statements. The International Financial Reporting Standards standards need to be strictly adhered to and, as a result, the quality of the audits will need to increase.
6. Further transfer pricing enforcement
Transfer pricing enforcement, which refers to the practice of establishing prices for internal transactions between related entities, is expected to broaden in scope. The UAE will shortly open the possibility to negotiate advance pricing agreements, or essentially rulings for transfer pricing purposes.
7. Limited time periods for audits
Recent amendments also introduce a default five-year limitation period for tax audits and assessments, subject to specific statutory exceptions. While the standard audit and assessment period is five years, this may be extended to up to 15 years in cases involving fraud or tax evasion.
8. Pillar 2 implementation
Many multinational groups will begin to feel the practical effect of the Domestic Minimum Top-Up Tax (DMTT), the UAE's implementation of the OECD’s global minimum tax under Pillar 2. While the rules apply for financial years starting on or after January 1, 2025, it is 2026 that marks the transition to an operational phase.
9. Reduced compliance obligations for imported goods and services
Businesses that apply the reverse-charge mechanism for VAT purposes in the UAE may benefit from reduced compliance obligations.
10. Substance and CbC reporting focus
Tax authorities are expected to continue strengthening the enforcement of economic substance and Country-by-Country (CbC) reporting frameworks. In the UAE, these regimes are increasingly being used as risk-assessment tools, providing tax authorities with a comprehensive view of multinational groups’ global footprints and enabling them to assess whether profits are aligned with real economic activity.
Contributed by Thomas Vanhee and Hend Rashwan, Aurifer
GAC GS8 Specs
Engine: 2.0-litre 4cyl turbo
Power: 248hp at 5,200rpm
Torque: 400Nm at 1,750-4,000rpm
Transmission: 8-speed auto
Fuel consumption: 9.1L/100km
On sale: Now
Price: From Dh149,900
How to watch Ireland v Pakistan in UAE
When: The one-off Test starts on Friday, May 11
What time: Each day’s play is scheduled to start at 2pm UAE time.
TV: The match will be broadcast on OSN Sports Cricket HD. Subscribers to the channel can also stream the action live on OSN Play.
In numbers: China in Dubai
The number of Chinese people living in Dubai: An estimated 200,000
Number of Chinese people in International City: Almost 50,000
Daily visitors to Dragon Mart in 2018/19: 120,000
Daily visitors to Dragon Mart in 2010: 20,000
Percentage increase in visitors in eight years: 500 per cent
Who's who in Yemen conflict
Houthis: Iran-backed rebels who occupy Sanaa and run unrecognised government
Yemeni government: Exiled government in Aden led by eight-member Presidential Leadership Council
Southern Transitional Council: Faction in Yemeni government that seeks autonomy for the south
Habrish 'rebels': Tribal-backed forces feuding with STC over control of oil in government territory
Race card
1.30pm: Handicap (PA) Dh 50,000 (Dirt) 1,400m
2pm: Handicap (TB) Dh 84,000 (D) 1,400m
2.30pm: Maiden (TB) Dh 60,000 (D) 1,200m
3pm: Conditions (TB) Dh 100,000 (D) 1.950m
3.30pm: Handicap (TB) Dh 76,000 (D) 1,800m
4pm: Maiden (TB) Dh 60,000 (D) 1,600m
4.30pm: Handicap (TB) Dh 68,000 (D) 1,000m
Classification of skills
A worker is categorised as skilled by the MOHRE based on nine levels given in the International Standard Classification of Occupations (ISCO) issued by the International Labour Organisation.
A skilled worker would be someone at a professional level (levels 1 – 5) which includes managers, professionals, technicians and associate professionals, clerical support workers, and service and sales workers.
The worker must also have an attested educational certificate higher than secondary or an equivalent certification, and earn a monthly salary of at least Dh4,000.
UAE tour of Zimbabwe
All matches in Bulawayo
Friday, Sept 26 – UAE won by 36 runs
Sunday, Sept 28 – Second ODI
Tuesday, Sept 30 – Third ODI
Thursday, Oct 2 – Fourth ODI
Sunday, Oct 5 – First T20I
Monday, Oct 6 – Second T20I
MATCH INFO
Uefa Champions League semi-final, first leg
Barcelona v Liverpool, Wednesday, 11pm (UAE).
Second leg
Liverpool v Barcelona, Tuesday, May 7, 11pm
Games on BeIN Sports
The specs
Engine: 1.5-litre turbo
Power: 181hp
Torque: 230Nm
Transmission: 6-speed automatic
Starting price: Dh79,000
On sale: Now
Keep it fun and engaging
Stuart Ritchie, director of wealth advice at AES International, says children cannot learn something overnight, so it helps to have a fun routine that keeps them engaged and interested.
“I explain to my daughter that the money I draw from an ATM or the money on my bank card doesn’t just magically appear – it’s money I have earned from my job. I show her how this works by giving her little chores around the house so she can earn pocket money,” says Mr Ritchie.
His daughter is allowed to spend half of her pocket money, while the other half goes into a bank account. When this money hits a certain milestone, Mr Ritchie rewards his daughter with a small lump sum.
He also recommends books that teach the importance of money management for children, such as The Squirrel Manifesto by Ric Edelman and Jean Edelman.
Game Changer
Director: Shankar
Stars: Ram Charan, Kiara Advani, Anjali, S J Suryah, Jayaram
Rating: 2/5
Madrid Open schedule
Men's semi-finals
Novak Djokovic (1) v Dominic Thiem (5) from 6pm
Stefanos Tsitsipas (8) v Rafael Nadal (2) from 11pm
Women's final
Simona Halep (3) v Kiki Bertens (7) from 8.30pm
'Fantastic Beasts: The Secrets of Dumbledore'
Rating: 3/5
Directed by: David Yates
Starring: Mads Mikkelson, Eddie Redmayne, Ezra Miller, Jude Law
Imperial%20Island%3A%20A%20History%20of%20Empire%20in%20Modern%20Britain
%3Cp%3EAuthor%3A%20Charlotte%20Lydia%20Riley%3Cbr%3EPublisher%3A%20Bodley%20Head%3Cbr%3EPages%3A%20384%3C%2Fp%3E%0A
West Asia Premiership
Dubai Hurricanes 58-10 Dubai Knights Eagles
Dubai Tigers 5-39 Bahrain
Jebel Ali Dragons 16-56 Abu Dhabi Harlequins
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